In 1908, the whole entire Peterson Lake Silver Mine was rather transforming when the Peterson Lake Mining Company had decided to lease a large portion of land. Most of this land was commonly considered to be located within the beds of Peterson Lake and Cart Lake. Generally the company it self would divide these portions up by creating 20 acre lots that became leased for royalty. More so the company was already in the leasing game when a number of companies had leased a large portion of these lakes. Some of these companies became identified as the Nova Scotia Mining Company, the Little Nipissing Mining Company, Kerry Mining Company, the Gould Consolidated Mining Company, the St. Anthony Mining Company, the Union Pacific Mining Company, the Brydge Syndicate, and prospectors O.N Scott, and Cyril T. Young. During this time period the Nova Scotia Mining Company, and the Little Nipissing Mining Company had made a shipment of the first ore that was taken from this leased mining zone.

Cobalt, Ontario, Canada was rather transforming in the beginning of the early 1900's, when several silver discoveries became uncovered within this geological region. More so the area was overly populated by many prospectors and companies who we're on a mission to uncover the rich silver ore that was hidden beneath the solid hard rock. One of these famous companies became notice as the Buffalo Mines Limited who had owned and operated the newly discovered Buffalo Silver Mine Project of 1906. In terms of its discovery the company had went under its own exploration procedures that soon uncovered a rich silver ore-body. More so the Buffalo Mines Limited would end up constructing its very first shaft operation that was sunken to a depth of 120 feet below the shaft collar. As this had occurred the company would also develop two ore producing levels that became situated on the mines 80 foot section and its 140 foot section. In nature these sections had started to open up the first and second level with a whack of drifting and crosscutting procedures that took place. During this time period the company would also hoist a large amount of ore that was mainly being stock piled at the time. It was also notice that the main owner of this mining operation and company was strongly known as Mr. Chas L. Denison of New York City.

During the year of 1908, the Gould Consolidated Mines Company would obtain its very own lease on the south end of Cart Lake. It soon became evident that two major shaft operations had been sunk at distance of 400 feet from Cart Lake. Each of these major shaft operations had been sunken to different depths as the No. 1 shaft was driven to 80 feet, and the No.2 shaft was only 65 feet below the shaft collar. As this development had occurred the No. 1 shaft was experiencing a wide range of drifting that took place on the 75 foot level. More so the company would also commence its own engineering project when the Gould Consolidated Mining Company had its own intentions on connecting the two shafts. This whole entire phase would also be aimed at making drifts and crosscut under Cart Lake. Another major contract was obtained from the Nipissing SIlver Mine that granted the Gould Consolidated Mines Company air from its operation. Generally the company would also name this operation the Foster Cobalt Silver Mine as it was located not to far from the Peterson Lake Silver Mine.

Another shaft known as the No. 12 shaft operation is rather located on the southeast corner of the claim that has been sunken to a depth of 180 feet. It also became opened up by two producing levels that became cut and stationed on the mines 80 and 140 foot sections Drifting within the first level has been driven for a distance of 175 feet northwest and continues southwest for another 122 feet before coming to a stop. During this time period the company and its dedicated team of miners would additionally establish short drifts that acted as off shoots from the main vein zones. Much of this development had started to take place at a distance of 73 feet from the No. 12 shaft operation. More development would also occur when the company had started placing timbers in preparation for stoping procedures as little ore was being broken down during this time period. As this became establish the company would also focus on opening up the second level when a drift was extended northeast for a distance of 75 feet, and continued southwest for 50 feet. However. the company and its team of miners would not construct any stope section within this level at this time period.

The Peterson Lake Mining Company would also lease the northern portion of Cart Lake to the Kerry Mining Company in 1908. It would also obtain its very own lease on 20 acres of shore line that was situated within Peterson Lake. Never to say the company would also name this operation the Kerry Lease as it was located near the Little Nipissing Silver Mine. During this time period the Kerry Mining Company would commence its own engineering phases of a shaft that would be sunken to 85 feet on the Cart Lake Lease. This development alone would also construct its own drifting procedures that took place on the west shore line of the lake near the 86 vein on the Nipissing. Company officials from the Kerry Mining Company would also erect its own shaft house with 3 drill straight line compressors. As this commenced the company would also construct its own small settlement that became establish on the west shoreline of Cart Lake,

All development that was achieved on the Peterson Lake Lease had also been started when the Kerry Mining Company had sunken a 65 foot shaft. As this had occurred the company would also obtain a contract to supply air to its drills and hoist from the Nipissing Silver Mine. No further development during this time period was commence as the shaft was just being sunken below ground levels within the year of 1908.

Company officials from the Peterson Lake Mining Company had other plans when it had leased 20 acres of land to the Little Nipissing Silver Cobalt Mining Company. More so this lease would included a total of 20 acres that was located on the west shoreline of Peterson Lake. As the company was granted this lease it would immediately commence its own explorations that discovered a rich silver vein zone. By this time the company was well off with this operation when the Little Nipissing Lease shaft was sunken to a scortching depth of 150 feet below the shaft collar. It was during this time that the company would also open up the first level that was cut and station on the 100 foot level. More so the Little Nipissing Silver Cobalt Mining Company would also engineer a long drift section that opened this level up for a distance of 175 feet on main vein location. At about 60 feet from the shaft, the company's crew had encountered a cross-vein that triggered the development of a 75 foot long drift section. It was also reported that much of the drifts had also been extended to 100 feet south and 60 feet northwest from the main shaft. Within this time period the company only had one piece of machinery operating that was identified as the reversible link motion hoist system. It also made a contract with the Nipissing Mining Operation to provide power to the leased land that it had called the Little Nipissing Lease

Another change was shortly after made in 1911, by The Peterson Lake Mining Company who had cancelled all their leasing opportunities with the low income mine owners and still had agreements with the Kerry Mining Company, and the Gould Consolidated Mining Company. Production and development by the two mining companies was strongly known for working the Little Nipissing Mins Zone as it was canceled and taken away from the Little Nipissing Mining Company. Most of this became establish because the company it self was not producing enough material towards royalty profits like the Kerry Mining Company and the Gould Consolidated Mining Company.

During 1911, the two companies would additionally sink the main shaft to about 160 feet below the shaft collar. In addition this would establish two newly developed mining zones that became stationed and cut on the mines 100 foot level, and its 155 foot level. A drift was then constructed to about 500 feet on the 155 foot level, where another huge development occurred. At about 450 feet in the company was now engineering a new project that included sinking the No. 2 Internal winze shaft to a depth of 120 feet from the 155 foot level. As this development occurred the company would additionally sink the winze shaft to about 280 feet below ground levels. Nevertheless, this whole entire development would open up new mining levels that became stationed and cut on the mines 230 and 280 foot levels. some production and development had soon escalated when the newly designed levels became opened up with drifting, and stoping procedures. However, much of the work was reported to have been mainly taken from the lower workings that were producing more high-grade silver ore content. Never to say the company and its team of hard-workers had soon commenced new construction phase to connect the No. 2 internal shaft with the main shaft operations by establishing a long drift on the 280 foot section. Soon enough the two company had once again step up their game as another drift was started to the east side of this mining operation. In addition the two companies would also engineer another winze shaft that was sunken to 55 feet and had reach its own depth of 330 feet below the surface. From here the company and its team of dedicated miners would end up commencing more crosscutting procedures, and had additionally conducted a small drilling program that was driven to about 300 feet within the solid hard rock. All development on the second level was rather believed to have been opened up by a 350 feet of crosscutting that was driven south along the ore-body.

Within 1911, the Seneca Superior Mining Company was well into its development stage of the No. 1 shaft that was located at Cart Lake. As this ownership became change the company had decided to further sink its No. 1 shaft operation that was now reaching a scorching depth of 100 feet. Most of this development would end up opening the first level that was station and cut on the mines 100 foot section. This whole entire expansion had included 300 feet of drifting, and crosscutting that was achieved during this time period.

By 1912, another historical change was made when the Peterson Lake Mining Company had incorporated it self into the Peterson Lake Silver Cobalt Mining Company. In addition the company it self had still owned 200 acres of continuous exploratory grounds that weren't located to far from Cobalt, Ontario, Canada. They would also further lease the mining operation to the Seneca Superior Mining Company and the Gould Consolidated Mining Company who had work on the Little Nipissing Silver Mining Operation. Not much work was reported to have been done during this time period as the two companies had engage in developing another shaft between Cart and Person Lake. At the time the company was also well into this development as the shaft was sunken to a depth of 80 feet below the shaft collar. Company officials from the Peterson Lake Silver Cobalt Mining Company would also construct its very own road way that connected with the mine site to Peterson Lake. Nothing else was known to have occurred during this time period of getting this newly developed shaft, and roadway going.

The Cart Lake No 1 shaft was also experiencing its own expansion when the Seneca Superior Silver Mining Company had additionally sunken the shaft to about 200 feet below the shaft collar. As this development became constructed the company would also construct a northward crosscut that was driven to about 800 feet by the north shoreline of Cart Lake. More so the company would also commence engineering phases towards a raise that was being developed to the surface at the end of this crosscut. During this whole entire expanding phase the company and its hardworking miners would end up encountering another high-grade silver vein zone. As this had all happened the company and its team of miners would end up developing drifts and stopes within this newly discovered silver vein zone. The Company would also engineer its own sorting house that was located not to far from this mining operation.

By the following year in 1914, the company was well underway with huge amount of development on both shaft operations. During this time period the mine was currently being leased to the Seneca Superior Mining Company and the Gould Consolidated Mining Company. These two historical figures had help with the whole engineering phase of the Peterson Lake Silver Mines. Development during this year was mainly confined to both shaft operations that had achieved 1,737 feet of drifting and crosscutting within the No. 1 Peterson Lake Shaft. Another huge amount of lateral development was also completed on the No. 2 Peterson Lake Shaft that had consisted of 2,967 feet of drifting and crosscutting, and 64 feet of raising that was done. More so the company would also commence further stoping procedures on the No. 7 vein zone that was located within the No. 2 Peterson Lake Shaft Operation.

Within 1914, the Seneca Superior Mining Company was well into production with its Cart Lake No. 1 shaft operation. This whole entire development would end up hosting its first ever silver ore that came from the Cart Lake Silver Project that wasn't located to far from the Peterson Lake Silver Mine. More so the Peterson Lake Silver Cobalt Mining Company had additionally made this into two producing mining zones that were both located under one claim. As the year had slowly came to an end the company was well into production when it had extracted 1,430,674 ounces of pure silver. In addition this whole entire production had also given a royalty profit of 25% to the Peterson Lake Silver Cobalt Mining Company. Even development from the Cart Lake shaft was outrageous as the company had expanded this mining zone by constructing more drifting procedures that totalled 779 feet on the vein, and another 2,513 feet towards exploring the ore-body within all the mining levels. Within this time period the company was also on a move when it had completely finish the No. 2 plant that was located on the shore lines of Cart Lake. As this became completed the company would additionally install the required equipment in order to operate this newly designed plantation. All of this had included a new head-frame, shaft house, 10 inch by 12 inch rand hoist, and a 1,040, cubic foot rand compressor that was driven by a 200 H.P motor. Even further development was also achieved when the company decided to develop its very own machine shop that was equipped with a drill press and a grinder. More so the company also had obtain much of its own power source from air as everything was mainly air powered during this time period. In nature the company would also design its very own ore dressing facility that was pretty much like a small scale milling facility. In addition the company had change its single jig as it was replaced by double jig with a tromell and weighting bins. A second Deister Sand Table and Deister Slime table had been also added toward this small scale ore-dressing facility.

By June 1916, the Seneca Superior Mining Company was rather closing down its own operations at Cart Lake when not enough ore was being uncovered from explorations and productions. More so this day would also mark the ending point for the Cart Lake Mining operation as nothing new was uncovered to keep this mine going. Almost all production from this mining zone was commonly known to have produce significant amount of ore from its four year life cycle that totalled 5 million ounces of Silver from Cart Lake alone. As the mine became abandoned nothing else was escalated as it was proven to be unsatisfactory for further development. Nevertheless, the company was also not finding the ore it had need in order to keep this production going as the mine became exhausted.

Even the Peterson Lake Silver Mine was becoming exhausted which made company officials look for more ground. As this had occurred the company also decided to keep all of its leased mining claims as no leases were granted to any companies. In addition the Peterson Lake Silver Cobalt Mining Company would further explore the Nova Scotia Portion of this mining zone that was once leased to the Nova Scotia Mining Company. It would also look towards other exploratory grounds that included Susquehanna Section and the Mercer Lease option that was rather being overlook at the time. More so the company would also do its own exploration procedures on the Reliance Property claims blocks that were located within the Peterson Lake mining claim.